Can You File for Bankruptcy Again?

Your Right to File Multiple Bankruptcy Petitions

It can happen to just about anyone—you have an unexpected medical emergency that’s not fully covered by insurance or you lose your job and it takes a while to find a new one. That’s one of the reasons we have the bankruptcy laws in place—so that you can get a fresh start. But is bankruptcy a one-shot deal? What happens if the unexpected happens again?

Filing for Bankruptcy a Second Time

The good news is that you can always file for bankruptcy again, regardless of how many times you’ve filed before. When you do, you’ll have to go through the same process—you’ll have to submit to a means test to determine if you qualify to discharge debts under Chapter 7 or must seek to reorganize your debt under Chapter 13.

Even though you can always file a subsequent bankruptcy, there are restrictions on how soon you can file for bankruptcy after a prior filing. If you file too soon, you may be prohibited from discharging debts, which can defeat the purpose of a bankruptcy.

The length of time you have to wait depends on the type of bankruptcy you previously filed. If your first petition was under Chapter 7, you must wait at least eight years from the date of the first filing to initiate another Chapter 7 proceeding. If you previously filed a Chapter 7, but now want to reorganize under Chapter 13, you have to wait at least four years.

If your first filing was under Chapter 13 and you want to file a similar petition, you can do so after just two years. However, if you reorganized your debt in a prior bankruptcy, but now want to discharge debt, you must wait six years.

Contact Heath, TX Bankruptcy Attorney Carrie Weir

I offer a free initial consultation to all potential bankruptcy clients. Contact my office by e-mail or call me at 972-772-3083 for a private meeting. With offices in Rockwall, Texas, I represent clients in Heath, Greenville, Lavon, Wylie, Mesquite and Rowlett.